InterContinental Hotels Group buys shares on September 11, 2024

On September 11, 2024, InterContinental Hotels Group PLC executed a significant transaction by purchasing 59,163 of its ordinary shares through Goldman Sachs International on the London Stock Exchange. This action was carried out under the authority granted by shareholders during the Annual General Meeting held on May 3, 2024. The shares were acquired at varying prices, with the lowest being £75.7600 and the highest at £77.1600, resulting in an average price of £76.6580 per share. The decision to buy back shares is often a strategic move by companies to enhance shareholder value, indicating confidence in their financial health. By reducing the number of shares in circulation, the company aims to increase earnings per share and potentially boost the stock price. Following this transaction, the total number of ordinary shares in issue stands at 159,530,077, excluding those held in treasury. The company has also announced its intention to cancel the purchased shares, which is a common practice following buybacks. This cancellation will further reduce the total number of shares available in the market, reinforcing the company's commitment to returning value to its shareholders. This transaction reflects the company's proactive approach to managing its capital structure and responding to market conditions. The involvement of Goldman Sachs International as the investment firm highlights the importance of professional financial services in executing such transactions efficiently.